Surprised that no one mentioned the new EU data protection directive, which goes a long way to fix the first issue mentioned in the article, the loss of control over our personal data (only for users in Europe though). I studied it in detail as I work in data analysis and consult companies on this, and I honestly think it is one of the best laws produced by the EU so far:
It gives users a multitude of rights such as being informed about exactly which kind of data a company has about them (and even get a digital copy of that data), how the company uses that data and for which purposes it is used. And if you're subjected to algorithmic decision making (e.g. an algorithm decides if the bank should award you a credit) you have the right to know which kind of algorithms were used in the process and to contest the decision. You also have the right to demand the deletion of your personal data and to revoke the right of a company to process it, as well as to demand correction of inaccurate data. The legislation also allows for severe fines and punishments for companies not respecting the regulation (up to 4 % of yearly turnover of the whole company group), so even companies the size of Google or Facebook should have strong incentives to follow the regulation.
It gives users a multitude of rights such as being informed about exactly which kind of data a company has about them (and even get a digital copy of that data), how the company uses that data and for which purposes it is used. And if you're subjected to algorithmic decision making (e.g. an algorithm decides if the bank should award you a credit) you have the right to know which kind of algorithms were used in the process and to contest the decision. You also have the right to demand the deletion of your personal data and to revoke the right of a company to process it, as well as to demand correction of inaccurate data. The legislation also allows for severe fines and punishments for companies not respecting the regulation (up to 4 % of yearly turnover of the whole company group), so even companies the size of Google or Facebook should have strong incentives to follow the regulation.